USFM and Twin Vee Amend Merger Terms, Reducing VEEE Shareholder Stake

Key Facts

1USFM and Twin Vee amended their merger agreement to reflect a revised transaction structure and updated ownership splits.

2The post-closing stock split was revised from 90/10 to 93% for USFM stockholders and 7% for Twin Vee stockholders.

3The amended agreement includes a requirement for USFM to seek a PIPE investment of up to $5 million.

USFM Corporation and Twin Vee PowerCats Co. amended their definitive merger agreement to reflect a revised transaction structure and updated ownership splits. ACCESS Newswire reported that the post-closing stock split was revised to 93% for USFM stockholders and 7% for Twin Vee stockholders, down from the previously agreed 10%. The amended terms also require USFM to seek a PIPE investment of up to $5 million.

Twin Vee PowerCats (VEEE) closed at $10.35 on October 7, 2026, prior to the disclosure of the revised equity distribution. The amendment modifies the original agreement signed in July 2026, shifting the valuation balance between the private mineral company and the public boat manufacturer.